CHICAGO: Corn and soybean spot basis bids held mostly steady around the US Midwest on Monday as grain and oilseed demand remained healthy and damp weekend weather hampered harvest activity, grain merchants said.
* The USDA said in its first crop progress report since the government shutdown that the US soybean harvest was 63 percent complete and the corn harvest was 39 percent complete, roughly in line with trade expectations.
* USDA said the winter wheat crop was 79 percent planted, matching the five-year average.
* After a wet weekend in some areas, farmers have their eyes on the forecast for the upcoming week. With more rain and snow flurries expected this weekend they are hoping to cut more crops soon, an Ohio grain merchant said.
* The basis rose by 7 cents at a port in Toledo, Ohio, reflecting competition from other elevators, a merchant said. Farmers are delivering an abundant amount of soybeans in the area and supplies are needed to fill the next available vessel, he said.
* An elevator soybean bid was higher by 2 cents per bushel in Des Moines, Iowa.
* Several issues, including a busy harvest season, poor weather and track congestion, hampered rail car availability for corn shipment, a Kansas rail broker said.
* A Texas corn rail bid fell by 6 cents per bushel.
* Chicago Board of Trade corn futures closed higher on Monday on spillover support from a rally in soybeans, traders said.
* Spot CBOT soybean futures settled above $13 a bushel on Monday for the first time this month, lifted by export demand for US soybeans and soymeal, traders said.
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